good morning friends..what are importance of indian Railways
Answers
Answer:
First of all it helps people from one place to go to the other places and transportation
Answer:
Railways were the most important infrastructure development in India from 1850 to 1947. In terms of the economy, railways played a major role in integrating markets and increasing trade. In terms of politics, railways shaped the finances of the colonial government and the Princely States. At the same time, Indian political institutions influenced railway ownership and policy, which in turn influenced railway performance. As the twentieth century progressed, railways became a force for independence and democracy.
The Government of India had a strong influence on railways from the beginning, but the government’s role increased over time. Railways were partially nationalised between 1880 and 1908 as the Government of India assumed a majority ownership stake in the former guaranteed railway companies. Dividend guarantees were a key feature of the early era of private ownership before 1880. We argue that guarantees weakened incentives to lower costs, but they also encouraged rapid railway development. Complete nationalisation occurred between 1924 and 1947 as the colonial government assumed full control over operations.